How Expensive are Mortgages in Needham?

By JOE LIPOVICH (Patch Staff)

NEEDHAM, MA—Paying your monthly mortgage is generally a fixture homeowner’s monthly budget, but some mortgage bills are larger than others.

In fact, Needham residents are paying larger mortgage costs on average than the county, state and country. According to the American Community Survey, 85.4 percent of residents are paying over $2,000 per month.

According to the data, 67.1 percent of residents in Norfolk County pay more than $2,000 per month. Statewide, 53.9 percent of Commonwealth residents pay more than $2,000 per month and just 30.6 percent of U.S. residents are paying that amount.

In addition, just 1.3 percent of Needham residents are paying between 500 and $1,000 per month, a number that is 2.6 percentage points less than the county total of 3.9 percent and 4.9 percentage points less than the Commonwealth total of 6.2 percent.